Sunday, November 05, 2006

Sacramento Regional Real Estate Trends for November 4, 2006

Well, the monthly inventory drop came with barely a whimper. Inventory is down a measly 178 units over last week:


This is remarkable compared to last year, when there was a 25% drop in inventory from peak to trough. (As an aside, I do find it curious that housing economists are using the recent drop in inventory as "proof" that a soft landing is in the bag. I think it's the wrong time of year to make such a prediction.)

On the asking price front, both Sacramento and Placer counties saw declines in all three indicators over last week, while higher-priced Yolo and El Dorado counties remained stable:


Price-level inventory trends remained stable, with a steady increase in lower-priced inventory and the steady decrease in the number of higher-priced units:


The flipper market continued to deteriorate, with over one in four flippers in Sacramento now taking a loss. Casey, you’re not alone...



1 comment :

Anonymous said...

Thanks Max.

The drop in inventory might be due ot sellers taking their properties off the market to wait for the "spring rebound" (that will more likely be the start of a recession).